Trading activities in the equities market resumed for the new week on a positive note today (NSEASI +0.60%), albeit mostly on light volumes. Consumer and cement majors- Guinness(+9.83%); PZ (+9.52%); WAPCO(+1.79%) and Dangcem(+1.43%) were major movers, mostly on late gains, whilst top banks UBA(+6.06%); Access(+4.26%); ETI (+1.45%) and Guaranty(+1.03%) also ticked higher. On the flipside however were FBNH (-3.85%); UACN(-1.69%) and FCMB (-1.67%) which recorded some pullbacks.
Compared to the previous session, market turnover improved slightly to N2.1bn ($5.6m), buoyed mainly offshore crosses in Guaranty($0.8m); Zenith($0.4m); mixed interests in Access($0.4m) and UBA($0.4m). The YTD loss on the NSEASI narrowed to -15.07%. We expect the market to maintain a similar trading pattern in the next session.
